2012 By Topic: Tax

Catalogue companies cannot retrospectively deduct the value of commission payments made to their agents from their total sales for the purposes of calculating their VAT liability, the EU's highest court has said.

Operators of Combined Heat and Power (CHP) plants will be liable for the Carbon Price Support (CPS) rate of Climate Change Levy, according to draft Finance Bill legislation published by the Treasury. For non-CHP plants the taxable person is the plant...

Changes to the way that shares which are awarded under an Enterprise Management Incentive (EMI) are taxed will make offering these as part of a remuneration package more attractive, an expert has said.

A 9.1% 'above the line' tax credit will be introduced for research and development (R&D) expenditure by large companies from 1 April 2013. Above the line treatment will be optional initially but will become compulsory from 1 April 2016, according...

Changes to the stamp duty land tax (SDLT) sub-sale rules announced as part of the draft Finance Bill "will introduce complexity and uncertainty into commercial transactions" said John Christian, a property tax expert at Pinsent Masons, the law firm behind...

The general anti abuse rule (GAAR) will come into force from royal assent to the Finance Bill 2013 and not from 1 April 2013 as originally proposed, according to draft legislation for the Finance Bill 2013 published today.

An agreement providing for the automatic exchange of information between tax authorities in the UK and Isle of Man will provide HM Revenue and Customs (HMRC) with more information about potentially taxable income held in Manx bank accounts, the Government...